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Working Paper
Firm Entry and Macroeconomic Dynamics: A State-level Analysis
Siemer, Michael; Gourio, Francois; Messer, Todd (2016-02)
Using an annual panel of US states over the period 1982-2014, we estimate the response of macroeconomic variables to a shock to the number of new firms (startups). We find that these shocks have significant effects that persist for many years on real GDP, productivity, and population. This result is consistent with simple models of firm dynamics where a ?missing generation? of firms affects productivity persistently.
Finance and Economics Discussion Series , Paper 2016-043

Report
Assessing recent trends in manufacturing
Steindel, Charles (1994)
Research Paper , Paper 9409

Journal Article
Living in an 800 MHz economy
Robertson, John C. (2000-10)
EconSouth , Volume 2 , Issue Q4 , Pages 1

Working Paper
From Population Growth to TFP Growth
Sanchez, Juan M.; Inokuma, Hiroshi (2023-03-27)
Using a firm-dynamics model that has been extended to include endogenous growth, we examine how population growth influences total factor productivity (TFP) growth. The most important theoretical result is that the growth rate of surviving old businesses is a "sufficient statistic" to determine the direction and the magnitude of the impact of population growth on TFP growth. Following that, the model is calibrated for Japan and the United States. The main finding of examining balanced growth paths (BGPs) with various rates of population growth is that the effect on TFP growth is sizable. ...
Working Papers , Paper 2023-006

Conference Paper
Providing the corporate environment to foster innovation
Kanter, Rosabeth Moss (1984)
Proceedings

Working Paper
Did the Great Inflation occur despite policymaker commitment to a Taylor rule?
Bullard, James B.; Eusepi, Stefano (2003)
The authors study the hypothesis that misperceptions of trend productivity growth during the onset of the productivity slowdown in the United States caused much of the great inflation of the 1970s. They use the general equilibrium, sticky price framework of Woodford (2002), augmented with learning using the techniques of Evans and Honkapohja (2001). The authors allow for endogenous investment as well as explicit, exogenous growth in productivity and the labor input. They assume the monetary policymaker is committed to using a Taylor-type policy rule. The authors study how this economy reacts ...
FRB Atlanta Working Paper , Paper 2003-20

Journal Article
Gains in U.S. productivity: stopgap measure or lasting change?
Furlong, Frederick T.; Daly, Mary C. (2005)
This Economic Letter uses state-level data to contribute to the analyses of the drivers of gains in U.S. labor productivity since 2000--stopgap measures among cautious employers or more lasting changes. While the nation has had a so-called jobless recovery, many states posted net job gains early in the recovery and regained previous peaks in employment levels well ahead of the nation. Comparing states with and without job recoveries, we find no significant difference in productivity growth. The results indicate that differences in demand (output) rather than differences in productivity growth ...
FRBSF Economic Letter

Working Paper
The Social Returns to Public R&D
Fieldhouse, Andrew J.; Mertens, Karel (2025-05-14)
Recent empirical evidence by Fieldhouse and Mertens (2024) points to a strong causal link between federal nondefense R&D funding and private-sector productivity growth, and large implied social returns to public R&D investment. We show that these high social return estimates broadly align with existing evidence on the social returns to private or total R&D spending. If the R&D increases authorized under the CHIPS and Science Act were fully appropriated, our modeling indicates a boost in U.S. productivity within a few years, reaching gains of 0.2–0.4% after seven years or more. At their ...
Working Papers , Paper 2519

For Poor Countries, Gains in Education Are Not Matched in Income
Vandenbroucke, Guillaume; Peake, Makenzie (2020-09-15)
Poor countries are narrowing the education gap with rich countries, but not the gap in GDP per capita.
On the Economy

Working Paper
Productivity and potential output before, during, and after the Great Recession
Fernald, John G. (2012)
This paper makes four points about the recent dynamics of productivity and potential output. First, after accelerating in the mid-1990s, labor and total-factor productivity growth slowed after the early to mid 2000s. This slowdown preceded the Great Recession. Second, in contrast to some informal commentary, productivity performance during the Great Recession and early in the subsequent recovery was roughly in line with previous experience during deep recessions. In particular, the evidence suggests substantial labor and capital hoarding. During the recovery, measures of factor utilization ...
Working Paper Series , Paper 2012-18

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